Global Partners Announces Retirement, Effective June 30th, of Thomas J.
Hollister as Chief Financial Officer, Chief Operating Officer and Director
Board of Directors Promotes Treasurer Daphne Foster to CFO and Senior VP Mark
Romaine to COO
WALTHAM, Mass. -- April 24, 2013
Global Partners LP (NYSE: GLP) today announced the retirement, effective June
30, 2013, of Thomas J. Hollister as Chief Financial Officer, Chief Operating
Officer and Director. The Board of Directors of the Partnership’s general
partner, Global GP LLC, has promoted Treasurer Daphne H. Foster to CFO and
Mark Romaine, Global’s Senior Vice President, Light Oil Supply and
Distribution, to COO.
“On behalf of the Board of Directors and Global’s employees, I want to thank
Tom for his financial stewardship and his dedicated service over the past
seven years,” said Eric Slifka, the Partnership’s President and Chief
Executive Officer. “Tom has contributed his expertise during a period of
significant growth for the Partnership, and we wish him well in his
“I am privileged to have served as a Global executive and a director of the
board, and am proud to have contributed to the Partnership’s success,”
Hollister said. “Global has a superb management team and a roster of
committed, highly skilled employees. Having worked closely with Daphne and
Mark for many years, I know that Global’s financial and operational leadership
will be in capable hands.”
Commenting on the promotions, Slifka said, “Daphne and Mark are experienced
and talented leaders whose background and skill sets make them perfectly
suited for these positions. Over her six years with Global, Daphne has been
responsible for leading our treasury department, broadening and strengthening
the relationships with our bank group and implementing an effective capital
structure to accommodate our long-term growth initiatives. Her financial and
industry expertise have proved instrumental in the implementation of our
capital markets strategy.”
“During his 15 years with Global, Mark has played a critical role in
establishing the Partnership as a leader in midstream logistics and marketing
and spearheading the growth of our crude oil activities,” Slifka said. “He has
successfully managed the expansion of our logistics operations, building
long-term relationships with our logistics and throughput partners and
developing our origin-to-destination assets from the Bakken region to the East
and West coasts. Mark’s operational and strategic skills make him the ideal
choice to become COO.”
Foster, 55, joined Global in 2007 and was elected Treasurer in 2010. Her
experience in the petroleum products industry includes several years as a Vice
President in the Energy and Utilities Division of Bank of Boston. She started
her banking career in 1982 at Bank of Boston and later joined Citizens
Financial Group, where she oversaw the Loan Officer Development Program.
Foster received her bachelor’s degree and MBA from Boston University.
Romaine, 44, joined a predecessor company to Global in 1998 as Premium Fuels
Marketing Manager and became Senior Vice President, Light Oil Supply and
Distribution, in 2006. His experience in the petroleum products industry
includes operations and marketing positions with Plymouth, MA-based Volta Oil.
Romaine received a bachelor’s degree from Providence College and an MBA from
the University of Massachusetts.
Hollister, 58, joined Global as CFO in July 2006 and was named COO in 2007. He
was elected to the Board of Directors in 2009.
About Global Partners LP
A publicly traded master limited partnership, Global Partners LP is a
midstream logistics and marketing company. Global is a leader in the logistics
of transporting Bakken and Canadian crude oil and other energy products via
rail, establishing a ‘virtual pipeline’ from the mid-continent region of the
U.S. and Canada to refiners and other customers on the East and West coasts.
Global owns, controls or has access to one of the largest terminal networks of
petroleum products and renewable fuels in the Northeast, and is one of the
largest wholesale distributors of gasoline, distillates, residual oil and
renewable fuels to wholesalers, retailers and commercial customers in New
England and New York. With a portfolio of approximately 1,000 locations in
nine states, the Partnership is also one of the largest independent owners,
suppliers and operators of gasoline stations and convenience stores in the
Northeast. In addition, the Partnership is a distributor of natural gas.
Global is No. 182 in the Fortune 500 list of America’s largest corporations.
Some of the information contained in this news release may contain
forward-looking statements. Forward-looking statements include, without
limitation, any statement that may project, indicate or imply future results,
events, performance or achievements, and may contain the words “may,”
“believe,” “should,” “could,” “expect,” “anticipate,” “plan,” “intend,”
“estimate,” “continue,” “will likely result,” or other similar expressions. In
addition, any statement made by Global Partners LP’s management concerning
future financial performance (including future revenues, earnings or growth
rates), ongoing business strategies or prospects and possible actions by
Global Partners LP or its subsidiaries are also forward-looking statements.
Although Global Partners LP believes these forward-looking statements are
reasonable as and when made, there may be events in the future that Global
Partners LP is not able to predict accurately or control, and there can be no
assurance that future developments affecting Global Partners LP’s business
will be those that it anticipates.
For additional information about risks and uncertainties that could cause
actual results to differ materially from the expectations Global Partners LP
describes in its forward-looking statements, please refer to Global Partners
LP’s Annual Report on Form 10-K for the year ended December 31, 2012 and
subsequent filings the Partnership makes with the Securities and Exchange
Readers are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date on which they are made. Global
Partners LP expressly disclaims any obligation or undertaking to update
forward-looking statements to reflect any change in its expectations or
beliefs or any change in events, conditions or circumstances on which any
forward-looking statement is based.
Global Partners LP
Thomas J. Hollister, 781-894-8800
Chief Operating Officer and
Chief Financial Officer
Edward Faneuil, 781-894-8800
Executive Vice President,
General Counsel and Secretary
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